LAKEWOOD, Washington – The Government Finance Officers Association of the United States and Canada (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to the City of Lakewood for its fiscal year 2019 comprehensive annual financial report.
The report was judged by an impartial panel to meet the standards of the program, demonstrating a constructive “spirit of full disclosure” to clearly communicate a financial story and provide motivation to read the report.
The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
“It is our mission to provide accurate and informative financial information to City leadership, residents and other interested parties. We have taken it a step further to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports. This award is representative of our continued commitment to financial transparency and full disclosure.”– Tho Kraus, Assistant City Manager/Chief Financial Officer
The City has consecutively received this award for fiscal years 2013 through 2019.
According to GFOA, 4,169 Certificates of Achievement were awarded for fiscal year 2019. 25 (0.6%) were bestowed to cities and towns in Washington State. Of 281 cities and towns in Washington State, approximately 9% earned the award.